Industria Commons and Brytania Square Win Award

4/23/2015

The Industria Commons and Brytania Square residential communities in New Britain, Connecticut were recognized at the 20th Annual Blue Ribbon Showcase held on April 22, 2015. Industria Commons and Brytania Square received the Best in Class Community Revitalization award.

The Blue Ribbon Showcase, sponsored by CREW CT - The Real Estate Exchange, was held at The Hartford Club in Hartford to honor excellence in 2014 real estate accomplishments. James Wakim, President and Chief Operating Officer of The Simon Konover Company, Marie Mazzotta, President of Konover Residential Corporation, Tony Lyons of National Equity Fund, and Howard Howes of Paul B. Bailey Architect, LLC were present at the award ceremony.

Completed in October, 2014, Industria Commons and Brytania Square are the culmination of a decade-long public-private partnership that transformed the former Corbin Heights and Pinnacle Heights Extension housing projects into two modern and welcoming residential neighborhoods in New Britain, Connecticut.

“The successful revitalization of these two communities was a tribute to the perseverance and ingenuity of the public-private partnership that brought this project to a reality," said James Wakim, President and Chief Operating Officer of The Simon Konover Company. “We are honored that the real estate community saw fit to recognize these projects.”

The Simon Konover Company acquired the Corbin Heights and Pinnacle Heights Extension housing communities in late May 2012, years after successfully winning an RFP bid for these revitalization projects. The properties were previously owned by CPS Properties, Inc., a subsidiary of the Connecticut Housing Finance Authority (CHFA).

The $80+ million dollar project included the renovation and demolition of the World War II era housing and the construction of 301 new modern homes. The projects were financed in part by Low Income Housing Tax Credit proceeds administered by Connecticut Housing Finance Authority (CHFA). National Equity Fund served as the tax credit syndicator, with equity investors JP Morgan Chase and TD Bank for the former Corbin Heights and the former Pinnacle Heights Extension projects respectively. Additional financing was provided through CHFA and Connecticut’s Department of Economic and Community Development.

Haynes Construction of Seymour served as the general contractor for the Corbin Heights project. D’Amato Builders of Norwich was the general contractor for Pinnacle Heights Extension. Paul B. Bailey Architect, LLC provided architectural services. Konover Residential Corporation provides property management services for the housing community.